Airtel Africa had announced its plans to issue an initial public offering of 595.2 million for 744 million new shares on the London Stock Exchange(LSE). The final pricing of IPO is expected on June 28. Conditional dealings in shares are also expected to commence on the same day on the LSE while equities are expected to start trading on July 3. The objective of the company is to raise gross proceeds of $750 million including an over-allotment option. The company said“Excluding the over-allotment option, the offer is expected to comprise 541.1 million to 676.4 million shares, to raise gross proceeds of approximately $682 million”.
It is also reported that Airtel Africa has set a price range of $1 to $1.25 per share for its proposed listing on London Stock Exchange.
